Tuesday, September 19, 2023

Inflation rate increases to four per cent


 

Canada’s inflation rate ticked up from 3.3 to four per cent in September, reports Statistics Canada.


Food prices increased by 6.9 per cent.


Gasoline went up for the first time in months, rising by 4.6 per cent from August and by 0.8 per cent compared with last year.


Prices for fruit, cereal and chicken rose at a slower year-over-year pace in August than in July; prices for frozen beef, coffee and tea and sugar and confectionary rose more rapidly.


In July the year-over-year increase was 8.5 per cent.


Prime Minister Justin Trudeau has called on grocers to hold prices steady after Thanksgiving.


Big whoop! Canada's dominant supermarket chains traditionally promise to freeze prices from Thanksgiving to Christmas.